Magnetar Financial LLC Makes New $164,000 Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Magnetar Financial LLC purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the fourth quarter, HoldingsChannel reports. The firm purchased 17,126 shares of the company’s stock, valued at approximately $164,000.

Several other institutional investors have also made changes to their positions in LEG. Point72 Asia Singapore Pte. Ltd. acquired a new position in Leggett & Platt in the 3rd quarter valued at $29,000. SRS Capital Advisors Inc. raised its stake in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company’s stock valued at $30,000 after purchasing an additional 2,629 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Leggett & Platt during the third quarter worth about $37,000. Brooklyn Investment Group acquired a new stake in Leggett & Platt during the third quarter worth about $44,000. Finally, SBI Securities Co. Ltd. bought a new position in Leggett & Platt in the 4th quarter valued at about $50,000. 64.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial cut their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th.

Leggett & Platt Trading Down 1.0 %

LEG opened at $8.22 on Monday. The company has a market cap of $1.11 billion, a P/E ratio of -2.20 and a beta of 1.11. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. The company’s 50 day moving average is $9.66 and its 200-day moving average is $11.12. Leggett & Platt, Incorporated has a 1-year low of $7.92 and a 1-year high of $19.33.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. Equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.05 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.43%. Leggett & Platt’s payout ratio is presently -5.36%.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.